Cedi Stability: Gov’t needs to do more – GUTA

The Ghana Union of Traders’ Associations (GUTA), says government must put in more effort to sustain its efforts aimed at stabilising the cedi.

The Association President, Dr. Joseph Obeng in an interview with NEAT FM’s morning show, 'Ghana Montie', commended the government for the recent gains made by the cedi against major trading currencies.

“Government has done well but they need to do more. We [traders] will also respond positively,” he said.

Ghana has over the past few months been thrown into an era of economic chaos largely brought about by a sharp depreciation of the cedi against major trading currencies including the dollar.

This led to a daily increment in the prices of essential commodities such as fuel and other goods and services.

However, the cedi over the past week has made significant gains against the dollar and has seen stability in the forex markets.